Spinnaker Insurance Company Consumer Complaints

Hippo acquires Spinnaker Insurance Company.

Hippo, the fast-growing home insurance and ownership company, reported that it had reached a definitive agreement to acquire Spinnaker Insurance Company, a nationwide property and casualty insurer licensed in 50 states and ranked A- (Excellent) by A.M. Best Company, pending regulatory approval. Spinnaker would become part of Hippo's family of companies as part of the deal.

A.M. Best Company has earned Spinnaker an A- grade for property and casualty insurance. In underserved insurance markets, Spinnaker offers high-quality security to policyholders. Spinnaker uses policy managers and managing general agents to access niche markets, concentrating on the short-tail industry (with an emphasis on consumers, landlords, and small commercial) and some specialty lines, with the ability to sell admitted insurance products in 47 states and jurisdictions.

Since 2017, Hippo Insurance Services has partnered with Spinnaker as its largest carrier platform, with Spinnaker-backed Hippo policies now available in over 18 states. The acquisition of Spinnaker exemplifies the two companies' alignment as well as the depth of their three-year relationship. Hippo will extend the regional scope of its modern home insurance plans, including innovative home security kits, as a result of this strategic move.

Hippo's Chief Insurance Officer, Rick McCathron, said, "Bringing Spinnaker into the Hippo family is a logical next step in expanding our proactive home insurance offering." "Spinnaker understands the intricacies of our market, mirrors our standards for technological excellence and customer service, and has consistently met, if not exceeded, our goals over the years. We're proud of how far we've come as partners and are looking forward to closing the deal."

Hippo Insurance will continue to act as a general managing agent, with its subsidiary Spinnaker underwriting a portion of its premiums and other insurer partners underwriting the rest. Under the Hippo umbrella, Spinnaker will continue to function independently and retain its status as a best-in-class program and fronting company. Spinnaker will continue to serve a wide range of high-quality program managers and expand its value-added program network.

"Spinnaker is ecstatic to be a part of the Hippo family. Spinnaker has pioneered the idea of value-added fronting since its inception in 2015, working to develop goods that support policyholders, producers, insurers, and reinsurers, according to Spinnaker Chief Executive Officer Dave Ingrey. "We know Hippo shares these values, and we admire their never-ending quest for new ways to improve their value proposition for all of their customers. Spinnaker is ecstatic that, as a result of this deal, we will be able to continue to improve the consumer experience in ways that favor both businesses, as well as all of our current and potential business partners."

Spinnaker was advised by Willkie Farr & Gallagher LLP and TigerRisk Capital Markets & Advisory on the offer, which is scheduled to close in the third quarter of 2020. Latham & Watkins, LLP was Hippo's legal counsel.

Hippo's History

Hippo Insurance Services is on a quest to revolutionize home insurance for today's families. With an efficient online buying experience based on reputable data sources, a smart home device kit included with every policy, and much more coverage for possessions such as appliances, electronics, and home offices, the company takes homeowners closer to a modern home insurance experience. Hippo Insurance is a member of the Hippo family of businesses, which combines home health and insurance for today's homeowners. According to its headquarters in Palo Alto, California, the company's policies apply to over 65 percent of homeowners in the United States. Hippo Insurance Services is a licensed property and casualty insurance provider that sells policies from several different insurance firms. Visit http://www.hippo.com for more details, including licensing information.

Spinnaker's History

A.M. Best Company has given Spinnaker Insurance Company an A- rating for property and casualty insurance. Spinnaker uses policy managers and managing general agents to reach niche markets, concentrating on short-tail industry (with an emphasis on consumers, tenants, and small commercial), some specialty lines, and fronting opportunities, with the potential to sell admitted insurance policies in 50 states and the District of Columbia. Visit www.spinnakerins.com for more information.

Spinnaker, a licensed insurance carrier, was represented by Willkie in the deal.

Hippo Insurance Services reported on June 3 that it had reached a definitive agreement to buy Spinnaker Insurance Company, a nationwide property and casualty insurer with licenses in 50 states and an A- (Excellent) rating from A.M. Best Company. Spinnaker would become part of Hippo's family of companies as part of the deal.

Since 2017, Hippo Insurance Services has partnered with Spinnaker as its largest carrier platform, with Spinnaker-backed Hippo policies now available in over 18 states. The acquisition of Spinnaker exemplifies the two companies' alignment as well as the depth of their three-year relationship. Hippo Insurance will continue to act as a general managing agent, with its subsidiary Spinnaker underwriting a portion of its premiums and other insurer partners underwriting the rest. Under the Hippo umbrella, Spinnaker will continue to function independently and retain its status as a best-in-class program and fronting company. Spinnaker will continue to serve a wide range of high-quality program managers and expand its value-added program network.

Hippo Insurance Services provides a modern home insurance experience for homeowners, including an online buying experience that uses reputable data sources, a smart home device package included with every policy, and coverage for appliances, electronics, and home offices. Hippo Insurance Services, based in Palo Alto, California, is a licensed property casualty insurance agent with policies underwritten by various insurance firms.

A.M. Best Company has given Spinnaker Insurance Company an A- rating for property and casualty insurance. Spinnaker uses policy managers and managing general agents to reach niche markets, concentrating on short-tail industry (with an emphasis on consumers, tenants, and small commercial), some specialty lines, and fronting opportunities, with the potential to sell admitted insurance policies in 50 states and the District of Columbia.

Partners Russell Leaf and Michael Stern and associates Jeffrey Daniel and Daniel Morris headed the Willkie deal squad.

Don't Make Assumptions.

Experts decide many insurance claims. Don't assume whether you know if something is covered or not. Although some instances involving are obviously covered by insurance, there are various factors why the insurance company might try to get out of paying you. It is essential to realize that the insurance provider could try to convince you that the cost of fixing the damages is less than the deductible. Don't let the insurance provider take a free ride in rejecting your legitimate claim. Get an experienced home insurance attorney to help.

Get An Acceptable Insurance Policy.

One of the most critical roles of an insurance attorney is to advise their clients of the insurance carriers inclined to keep their promises. That's why we made this list.

If your insurance carrier is on this list, please review the score. If it is failing, we recommend you contact your insurance agent and consider switching companies. We recommend buying insurance from one of the following market carriers:

• Allied Trust
• Universal North America
• American National Lloyds

The insurance industry in the united states makes brilliant trillion dollars annually from rates, according to studies. Sure, that may be a lot of greenbacks. We have compiled a listing of the worst property coverage companies in Texas, with the aid of inspecting lots of information about these groups consisting of courtroom documents, facts, and interviews from insurance personnel.

In case you've had property damage, and your insurance carrier is not adequately paying your claim, you need to recognize that they may be now not to your side. They use demonstrated strategies to get you to accept a tiny fraction of what you want to recover financially out of your insurance policy. We combat these companies each day, and we win. Our clients can relax knowing we're dealing with each detail of their claim and are aggressively pursuing the compensation they deserve. Call us for free to discover if you have a case.

YOU CAN OBTAIN A HIGHLY SKILLED INSURANCE LAWYER

If your insurance company has refused to honor your policy despite having a valid claim, you can recover damages based on "bad faith." At Dick Law Firm, PLLC, we are committed to fighting for the total compensation you deserve. When you retain our services, we fight to protect your rights as a policyholder.

Hiring a highly-skilled property insurance attorney will help by:

• Significantly increases the value of your claim
• Learning all of the ins and outs of your policy
• Helping you navigate the claims process and negotiations
• Validating the cause and extent of the damage
• Informing you if a claim denial is valid
• Notifying you of all relevant insurance laws

If you have been mistreated or wronged by your insurance company, you can count on us to do everything possible to rectify the situation. We aim to resolve a claim as efficiently and effectively as possible.

Please speak with our team at 833-7RIGHTS today! Consultations are FREE.